TODAY.AZ / Business

Azerbaijan is ready to sign credit agreement on construction of Alat - Astara highway

22 October 2005 [00:17] - TODAY.AZ
The government of Azerbaijan plans to sign an agreement on Alat-Astara highway project with the International Bank of Reconstruction and Development (IBRD) and the Asian Development Bank in 2005. Azerbaijan plans to bore around $300millions from the World Bank (WB) and $100millions from the ADB.

“The issue of whole or partial use of WB’s credit will be considered during unification of the draft project, as the project also envisages use of the $40millions fund of the Iranian government.

The package has been already formed. All documents provided by donors were sent to ministries and departments involved. The reviews on the project will be submitted before October 24. Government officials assure that there is no serious delay on the project.

The length of the highway will comprise 243km, while the width will make up 28.2 meters that will allow the government to reduce way between Baku and Astara by 70 km. The total length of the Azerbaijani roads comprises 24,000 km. Azerbaijan need over $2billions for reconstruction of old and construction of new highways.

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